BAOVIET Bank Q1: Growth thanks to effective utilization of Bao Viet Group ecosystem

Synergistic segments such as personal loans, bancassurance, and insurance premium collection achieved good results, contributing to strengthening the Bank's growth momentum.

Bao Viet Commercial Joint Stock Bank (BAOVIET Bank) has just announced its business results for the first quarter of 2025 with many positive financial growth indicators, showing strong efforts to transform towards digitalization and comprehensive integration in the Bao Viet Group ecosystem.

By the end of the first quarter of 2025, the bank's total assets reached VND89,785 billion. Total outstanding credit reached VND52,986 billion, up 16.54% over the same period last year, of which customer loans reached VND48,182 billion. In terms of mobilization, the total mobilized balance reached VND58,796 billion, up 9.1%, contributing to ensuring a stable source of capital for credit needs.

In particular, BAOVIET Bank continues to promote its digital transformation strategy, develop digital banking, and increase online deposits on online channels. This direction is both in line with market trends and demonstrates proactive and serious implementation of the Project "Developing non-cash payments in Vietnam in the period of 2021-2025" under the direction of the Prime Minister .

At the end of the first quarter of 2025, BAOVIET Bank's pre-tax profit increased by 7.6% compared to the results achieved in the same period last year.

One of the highlights of BAOVIET Bank is its ability to effectively exploit the advantages of the Bao Viet Group ecosystem - one of the largest financial - insurance groups in Vietnam. In 2025, the Bank will continue to promote the strength of its connections to expand its customer base, develop integrated products and improve business efficiency.

Synergies such as bancassurance and life insurance cooperation reached nearly 130% of the plan for the first quarter of 2025. Insurance premium collection services also recorded good results. BAOVIET Bank promoted fee collection services related to life insurance, cash flow management and specific financial products in the ecosystem.

In order to personalize the experience and optimize service for specific customer groups, BAOVIET Bank has built a specialized service system for consultants and customers owning Bao Viet Life insurance contracts. Specifically, BAOVIET Bank has been researching and developing overdraft and consumer loan products for existing customers who have life insurance contracts. In addition, BAOVIET Bank also pays attention and focuses on the application of technology to credit products and services. The bank has been researching, building and deploying a loan product with valuable papers as collateral on the BAOVIET Smart digital banking application, helping customers easily access capital quickly and conveniently.

In parallel, the bank also marked its 60th anniversary with a series of gratitude programs. Most recently, BAOVIET Bank launched the program "Bao Viet Loan - Firm Steps for the Future" exclusively for Bao Viet Life's staff, insurance agents and consultants.

Specifically, Bao Viet Life's staff, insurance agents and consultants will enjoy an attractive preferential loan policy - interest rates from only 6.2% in the first 12 months, preferential period up to 24 months, along with a simple and quick approval process.

For Bao Viet staff, BAOVIET Bank also supports loans of up to 100% of the remaining principal balance at other banks. For the group of consultants, the bank applies a flexible income declaration mechanism and records all income from insurance agents as a basis for regular debt repayment.

Thuy Linh

Source: https://congthuong.vn/baoviet-bank-quy-i-tang-truong-nho-tan-dung-hieu-qua-he-sinh-thai-tap-doan-bao-viet-384273.html